NEW DELHI: The Reserve Bank of India (RBI) has extended the period of interest subsidy on export credit given to exporters by 3 months till 30 September 2021. This decision of the bank will give a lot of relief to the exporters. This scheme was extended in April till 30 June 2021.
The Reserve Bank of India in a notification said that the Government of India has approved the extension of the period of interest scheme on Rupee export credit to be given before and after shipment of export goods. This scheme will be applicable for 3 months i.e. till 30 September 2021 with the same size and base. It said that the scheme has been extended from 1 July 2021 to 30 September 2021.
Welcoming the government’s decision, A Sakthivel, president of the Federation of Indian Export Organizations (FIEO), the apex body of exporters, said in a statement that it will help the identified export sectors of the country to increase their competitiveness, capacity in the international market and they will be able to export. Can increase
He thanked Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das for this. He also appealed to them to extend the interest subvention scheme for Micro, Small and Medium Enterprises (MSMEs). FIEO President said that the MSME sector units are still facing the lack of credit for business at affordable rates.